http://www.breitbart.com/article.php?id ... _article=1
Economists peddling dire warnings that the world's number one economy is on the brink of collapse, amid high rates of unemployment and a spiraling public deficit, are flourishing here.
The guru of this doomsday line of thinking may be economist Nouriel Roubini, thrust into the forefront after predicting the chaos wrought by the subprime mortgage crisis and the collapse of the housing bubble.
"The US has run out of bullets," Roubini told an economic forum in Italy earlier this month. "Any shock at this point can tip you back into recession."
But other economists, who have so far stayed out of the media limelight, are also proselytizing nightmarish visions of the future.
Boston University professor Laurence Kotlikoff, who warned as far back as the 1980s of the dangers of a public deficit, lent credence to such dark predictions in an International Monetary Fund publication last week. He unveiled a doomsday scenario -- which many dismiss as pure fantasy -- of an economic clash between superpowers the United States and China, which holds more than 843 billion dollars of US Treasury bonds.
"A minor trade dispute between the United States and China could make some people think that other people are going to sell US treasury bonds," he wrote in the IMF's Finance & Development review.
"That belief, coupled with major concern about inflation, could lead to a sell-off of government bonds that causes the public to withdraw their bank deposits and buy durable goods."
Kotlikoff warned such a move would spark a run on banks and money market funds as well as insurance companies as policy holders cash in their surrender values.
"In a short period of time, the Federal Reserve would have to print trillions of dollars to cover its explicit and implicit guarantees. All that new money could produce strong inflation, perhaps hyperinflation," he said.
"There are other less apocalyptic, perhaps more plausible, but still quite unpleasant, scenarios that could result from multiple equilibria."
According to a poll by the StrategyOne Institute published Friday, some 65 percent of Americans believe there will be a new recession.
IMO, People should get out of paper ahead of time and into things more tangible and stable. Some people like to buy silver dimes on Ebay. Some people like to sell them. You can still get a silver dime (any dime pre-1963/90% silver) for around $1.25 U.S. If you don't like the internets, there are coin shops everywhere, and coin shows every weekend.
Some people think it is a good idea to invest 2$ a week and grab a dime here and a quarter there. After a while, you might have a small pile of honest money with honest value. Whether it is worth more or less will depend on the strength of the US dollar, but it will NEVER, EVERRRR, be worth zero. AS a matter of fact, only paper can become worthless, losing 100% of it's value. How much can you get for a stock certificate from Enron today? How about GM bonds?
Given that we are having record deficits of 1.4 trillion/year, (on top of the old record 400 bil), and we are not doing anything to slow down, some might argue that is a very strong case that the silver will be worth more in the future.
I do not like to see my people, or ANY people, fleeced by central bankers just as much as I do not like my children born into impossible debt. This was one of Thomas Jefferson greatest concerns. IMO, Thomas Jefferson was the first Liberal. He emphasized absolute freedom to the highest degree possible. The only prohibitor of freedom would be when you cross into someone elses freedom. Just wanted to share some quotes.
http://www.youtube.com/watch?v=QcWaCsvpikQ
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks...will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
All, too, will bear in mind this sacred principle, that though the will of the majority is in all cases to prevail, that will, to be rightful, must be reasonable; that the minority possess their equal rights, which equal laws must protect, and to violate which would be oppression
If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and never will be.
It is error alone which needs the support of government. Truth can stand by itself.
.No free man shall ever be debarred the use of arms. The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government
The ground of liberty is to be gained by inches, and we must be contented to secure what we can get from time to time and eternally press forward for what is yet to get.
There are a few things preventing them. #1, nobody even would believe ya about the subject at hand #2 not many more would even care anyways #3 "they" are wicked brilliant in a whole different level
